L3 acquires Open Water Power, expands UUV portfolio
NewsMay 31, 2017
NEW YORK. Officials at L3 Technologies completed the acquisition of Open Water Power Inc. on May 19, 2017. Terms of the acquisition were not disclosed, but the division will be integrated into L3's Sensor Systems business segment under the new name: L3 Open Water Power.
Open Water Power is based in Somerville, Massachusetts. Engineers at the company are developing safe and high-energy-density undersea power generation technologies for use by Unmanned Undersea Vehicles (UUVs) and other maritime platforms. Its technology enables safe power generation solutions for UUVs.
Michael T. Strianese, L3’s Chairman and Chief Executive Officer, says “When combined with our recent acquisition of L3 OceanServer, Open Water Power’s innovative power system capability will enable us to meet the increasing demand for smaller, more cost-efficient UUVs with the ability to conduct longer missions at greater depths. Given the U.S. Navy’s focus on UUV technology, we believe we are well-positioned in this high-priority, high-potential growth area. We continue to look for strategic additions that enhance the solutions we offer to our customers and will drive future growth for L3.”
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